Fund managers seek another way into China | FT

Foreign efforts to forge joint ventures with China's leading fund management companies are grinding to a standstill, leading many overseas money managers to look elsewhere for partners.

Foreign money managers, with the encouragement of the China Securities Regulatory Commission, the chief regulator, have entered negotiations over the past year to form JVs with at least seven Chinese funds companies.

But talks are foundering on disagreements over issues ranging from the price foreigners will pay to buy in and local resistance to surrendering management control and equity.

The disagreements have handed an advantage to the fund managers who took a different route into China by finding partners among local securities companies. more